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Campos Neto To Speak, Unemployment Data Due

  • Despite a brief pop in USDBRL as details trickled out over the new fiscal framework on Thursday, the pair slowly gravitated back towards the lows and closed below noted 5.10 support. The break strengthens the current bearish theme and signals scope for a move towards 5.00 and 4.9410, the Feb 2 low.
  • Potential comments from Central bank Govenor Campos Neto in Brasilia where he grants lecture during a public event. Unemployment rate data at the top of the hour: February National Unemployment Rate, est. 8.7%, prior 8.4%.

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